The Opinions Are Trump’s Tariffs Trying to Solve a Problem That Doesn’t Exist?
19 snips
May 12, 2025 
Jason Furman, an economist and former adviser to President Obama, shares his unique perspective on trade as a fundamental good. He delves into the complexities of trade and its often-overlooked benefits for American households, particularly for lower-income families. Furman challenges the notion that trade causes job losses, instead highlighting its global benefits in reducing poverty. He also critiques Trump's tariff policies, raising concerns about their potential inflationary impact and the need for balanced future trade strategies with respect to national security.
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Trade Benefits Everyday Life
- Modern trade reduces costs and connects global supply chains for everyday products.
- Trade especially benefits low and moderate income households through cheaper goods and better job opportunities.
Trade Is Secondary to Inequality
- Trade is not the main cause of wage stagnation or rising inequality.
- Other economic factors contributed more to hardships among lower and middle income Americans.
Trade's Complex Job Impact
- Trade causes job losses in some sectors but also creates jobs through exports and access to better machinery.
- Manufacturing job decline predates trade deals and has stabilized recently.